Satoshi Nakamoto assumed that Bitcoin could consume a lot of energy

24.02.2024
24.02.2024

One of the early developers of the Bitcoin code, Martya Malmi, published her correspondence with Satoshi Nakamoto.

In his messages, Satoshi suggested that Bitcoin could consume a lot of energy due to Proof-Of-Work (PoW).

“PoW is the only solution that makes P2P electronic money work without a trusted third party... I believe that if it did consume a significant amount of energy, it would still be less wasteful than labor and resource intensive traditional banking. which he would replace. The price will be an order of magnitude less than the billions in bank fees that pay for all those brick buildings, skyscrapers and credit card junk mail,” Satoshi wrote in May 2009.

“It would be ironic if we end up having to choose between economic freedom and conservation,” Satoshi added.

He also didn't want Bitcoin to be promoted as an investment.

“... I don’t feel comfortable saying directly: consider it an investment. It is dangerous to say this and you should remove this paragraph. It’s fine if they come to that conclusion on their own, but we can present it (BTC) that way,” he said.

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